Michigan Tech Among Universities Receiving $6.63 Million in State Economic Development
Funding

Michigan Technological University is one of several state universities and economic
development agencies that will receive a combined $6.63 million in three different
initiatives from the State of Michigan.

The Michigan Strategic Fund and the Michigan Economic Development Corporation (MEDC)
have announced that they are investing in:

university-industry partnerships.

technology commercialization.

innovation and entrepreneurship.

Michigan Tech will receive $260,000 over two years. Participating universities, including
Tech, will compete for additional funds from the total pool of dollars.

“These investments will enable Michigan Tech to help grow the state’s economy by connecting
our resources of expertise and technology with established and start-up companies,”
says Dave Reed, vice president for research at Michigan Tech.

In the university-industry partnerships initiative, a Corporate Relations Network
for Michigan’s Research Universities (M-CRN) will be built for $1.8 million. “At Michigan
Tech, this program will advance our historically strong connections with industry
and promote collaboration across the institutions,” says Jim Baker, executive director
of innovation and industry engagement.The M-CRN features:

an internship program placing students with local companies.

a small-company innovation program for joint university-company projects.

The second initiative involving Michigan Tech, a Tech Transfer Talent Network, will
be built for $2.43 million statewide. “This is of particular value to Michigan Tech
because, while we have an extensive network of successful alumni, their geographic
distribution and the diverse nature of technology make it hard to match up alumni
experts with industry,” said Baker.Features include:

A third project, the Michigan Initiative for Innovation and Entrepreneurship (MIIE),
will receive $2.4 million from the statewide grant. MIIE helps universities attract
private company investment to move early stage technologies from laboratory to market.
The program involves all Michigan public universities. Baker cochairs MIIE with Marvin
Parnes, associate vice president for research and executive director of research administration
at the University of Michigan.

“Several Michigan Tech researchers have already received funding under this program
to move their technologies forward,” said Baker. “In particular, funding from this
program helped establish a company focused on osteoporosis-fighting technology and
another that is developing commercial applications for stamp sand.”

Michigan Technological University is a public research university, home to more than
7,000 students from 60 countries around the world. Founded in 1885, the University
offers more than 120 undergraduate and graduate degree programs in science and technology,
engineering, forestry, business and economics, health professions, humanities, mathematics,
and social sciences. Our beautiful campus in Michigan’s Upper Peninsula overlooks
the Keweenaw Waterway and is just a few miles from Lake Superior.